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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (39846)10/30/2010 8:51:41 PM
From: Madharry  Read Replies (1) of 78820
 
I expect that we will see a lot of cities file for bankruptcy as a way to discharge or reduce their pension obligations. Its laughable to think that deals under which overtime counts towards retirement benefits in a big way can end anyway other than badly. Buffett was talking a couple of years ago about how his company was going to take over the municipal bond insurance market. He hasnt said much of anything about this in quite awhile. Unfortunately I just see this snowballing as once consumers, retirees , business get wind that a cities finances are in trouble those who can will abandon ship like the ETs in MIB and cities will suffer from a dwindling tax base and declining real estate prices until they file. How many real estate investors are looking to buy property in Harrisburg PA?
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